1. Field of the Invention
This invention relates to computer networks and systems and is essentially an electronic bulletin board or electronic trading system that advertises relevant data related to continuous offerings of subscription rights to `Games of Chance.` The system does not solicit advice; offer guarantees; or intermediation between subscriber/purchaser and issuer or offerer.
At the present time some of the states of the United States of America; other authorized operators and countries foreign to the United States, issue or offer subscription or purchasing rights in the form of a complete Unit of Participation for each outstanding class of `games of chance.`
The owner of record of one complete Unit of Participation in any class owns one right to a `future claim` which when exercised on or within a prescribed expiration period after expiration of each class leads to a financial claim.
For the most part, these offerings are designed to enable public participation in any or all classes of offerings. Participation in any game of chance offered by a particular state in the U.S.; or other authorized operators; or in countries foreign to the U.S., can only be made within the state; or within the location where such offerings are available; or in the country foreign to the U.S. The offering of each class of Unit of Participation is closely supervised, so that the right to own one complete Unit of Participation in any class of offering is not available outside the state; or the location of the authorized operator; or the country that is foreign to the U.S.
This means that an individual or resident of California, who wishes to subscribe or purchase into any class of offering by the State of New York, or Florida, or any other authorized operator, or a country that is foreign to the U.S. must be personally and physically present within the State of New York or the State of Florida; or personally and physically present within the premises where these offerings are legitimately available; or in the country that is foreign to the U.S.; or alternatively establish private arrangements to be represented as a subscriber or purchaser. This of course has its drawbacks. Another problem with participating in any or all classes of offerings is that an owner or record of a complete `right` leading to a `future claim`, must, for the most part furnish adequate proof that he or she is the beneficial owner of record of each complete Unit of Participation when submitting a `right to claim` to the Issuer. A misplaced or lost Unit of Participation, which is only issued as a Bearer Certificate, could mean the loss of all rights to claim and thus the total loss of prize money. The inability of being able to be physically and personally present to subscribe or purchase into other classes of offerings of `games of chance` is equally financially unrewarding.